Just wondering if this a common request from homeowners? He wants a copy of our credit report....
Just feels like a really personal thing to ask for, I understand if you're renting...cause you wont be going through a mortgage broker....but I want call them back and say, we will go down and get pre-approved if he's nervous to pick us....
We have nothing to hide, I was just taken aback...and I dont want to overreact.....
FTRBRIDE
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Member since
Re: Asking for Credit Report.....
I'd say get a pre-approval and hopefully that would satisfy him. Is he selling through a broker or by himself? Sounds like something someone who is selling on their own would do. Remember, the more times you run a credit report it actually LOWERS your score...so if you run one to give to him, and then you go to banks or a mortgage broker, they are going to run it again.
DjPiLL
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Re: Asking for Credit Report.....
There is nothing wrong with asking for your credit report. I would ask for one as well. If you want me to sell my property to you... you have to go by my rules. Its as simple as that.
Its illegal for them to pull your report though without your permission (thats why he is asking).
I guess if you are unhappy with this... best to look for another property.
MrsSchultz
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Re: Asking for Credit Report.....
Yeah, I guess I was just not expecting someone to ask for that, but I see your point.
I also agree with FTRBRIDE, that I dont want to run my credit report too many times.
I'm a control freak, and I hate being out of control!!! GRRRR!!! hee.....
Will see if getting pre-approved (which we planned on doing anyway, didn't expect to find something we loved so soon!!) will appease him.
I wouldn't want to sign a contract with someone, go through everything and then find out they can't get a mortgage and it falls through, and you missed out on other offers b/c of it....realize its a security thing...overreacting...and am calm now....skulking back into the corner.....
MrsJ
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Re: Asking for Credit Report.....
Posted by MrsSchultz Will see if getting pre-approved (which we planned on doing anyway, didn't expect to find something we loved so soon!!) will appease him.
Yes, go get pre-approved. It will give you a jumping off point so you know what you can afford and also you can tell this guy you are preapproved. I would not give him a copy of my credit report. It has too much info on it. Its not his business what bank accts you have, or cc that you have or anything else - car loans, studen loans, etc. He just wants to know you can afford to buy his house and getting preapprove will satisfy that.
kpny622
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Member since
Re: Asking for Credit Report.....
Personally I think it's a little intrusive for the Seller to ask for your credit report. It's your personal information with all your accounts, etc. A pre-approval for a mortgage should be sufficient. That being said, I know it happens all the time - even in the rental market, when Landlords require it.
Jordan
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Member since
Re: Asking for Credit Report.....
Posted by kpny622
Personally I think it's a little intrusive for the Seller to ask for your credit report. It's your personal information with all your accounts, etc. A pre-approval for a mortgage should be sufficient.
I definitely wouldn't hand over my credit report - like others have stated, a pre-approval should be sufficient enough. A credit report has very personal information on it.
thiadora
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Re: Asking for Credit Report.....
Posted by kpny622
Personally I think it's a little intrusive for the Seller to ask for your credit report. It's your personal information with all your accounts, etc. A pre-approval for a mortgage should be sufficient. That being said, I know it happens all the time - even in the rental market, when Landlords require it.
I agree with this also. While I can understand that a seller wants to be certain that there will be no problems once the contract is signed, I don't want to give this particular peice of information to just anyone. It would be one thing if it just showed the credit score. However, it also contains all of my credit cards with the account numbers.
Also- I don't see how it would really help. Just because someone has excellent credit doesn't mean that they can afford the mortgage payments. A pre-approval says what the bank is willing to lend you and I feel that that's really all you need to know.
skew
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Member since
Re: Asking for Credit Report.....
Posted by kpny622
Personally I think it's a little intrusive for the Seller to ask for your credit report. It's your personal information with all your accounts, etc. A pre-approval for a mortgage should be sufficient. That being said, I know it happens all the time - even in the rental market, when Landlords require it.
i agree. there is NO reason why the seller should be asking for your credit report.
janwinterbridejoy
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Member since
Re: Asking for Credit Report.....
Posted by skew
Posted by kpny622
Personally I think it's a little intrusive for the Seller to ask for your credit report. It's your personal information with all your accounts, etc. A pre-approval for a mortgage should be sufficient. That being said, I know it happens all the time - even in the rental market, when Landlords require it.
i agree. there is NO reason why the seller should be asking for your credit report.
i also agree i think thats what the mortgage companys and banks are for. i dont think some random person should have your credit ratings
112903
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Re: Asking for Credit Report.....
I would never hand over my crediit report to someone...It has your date of birth SS# all bank and credit accounts, your employment all sorts of info. I would just go get pre-approved
TracyInQueens
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Re: Asking for Credit Report.....
I too would worry about privacy issues. Who knows what he will do with it? You have to be so careful these days.
redy2wed
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Re: Asking for Credit Report.....
i dont think giving your credit report to someone is something you should do. there is tons of personal info on that. the pre approval should be sufficient, because a bank is not going to approve you if you have judgments or liens. if u need help getting a pre approval, my husband is a mortgage consultant and can get one for u. if u need help Fm me
Johnny&Maur
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Member since
Re: Asking for Credit Report.....
Just wanted to say that having your credit report pulled doesn't necessarily lower your score. Most companies will do what is called a 'soft pull' where the information is looked at by them but will NOT affect your score in any way...and other lenders won't be able to see who is inquiring. Only when a 'hard pull' is done will it affect your score...and your score will rebound in about 2 months. Just be sure to ask what kind of pull is being done, they should be able to tell you right away. :)
cluelessbride
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Re: Asking for Credit Report.....
I would never hand over my credit report to a seller. I would give them the score, but with all else blacked out. It's too personal and dangerous to have in the hands of a non-financial institution. I wouldn't trust the seller with it.
wood2be
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Member since
Re: Asking for Credit Report.....
I wouldn't give it to him. I don't understand why he is asking. If you show him that you are pre-approved that should be sufficient. Are you not going through a broker?
